W&T Offshore has successfully drilled the Main Pass 108 No. 8 well. The well reached TD 12,878 feet and found seven pay sands. The company owns a 100% working interest in this well and is currently in the process of completing this conventional shelf development well.

Plains Exploration & Production Company (PXP) has executed a securities purchase agreement with EIG Global Energy Partners in which PXP will receive $450 million of cash proceeds in exchange for a 20% equity interest in Plains Offshore Operations, Inc., a wholly owned subsidiary of PXP established to hold all of PXP’s Gulf of Mexico assets. Included in the assets is the Lucius oil development project, a discovery with first production anticipated in 2014.

Williams Partners, LP has signed multiple agreements with Hess Corporation and Chevron to provide production handling, export pipeline, oil and gas gathering and gas processing services in the Tubular Bells field development. Hess and Chevron will utilize Williams Partners’ proprietary floating production system, Gulfstar FPS™.

Gulf Island Fabrication, Inc. has signed contracts for the fabrication of three new projects totaling $125 million. Oil and gas projects include a process module for ATP Oil & Gas Corp. and topsides for Williams Partners’ floating production system, Gulfstar FPS. The third project is for a dry dock for the Terrebonne Port Commission.

Hornbeck Offshore Services, Inc. announced that John T. Rynd and Kevin O. Meyers have been appointed to its Board of Directors, effective June 23, 2011.

Noble Energy, Inc. announced a discovery at the Santiago exploration prospect in the deepwater Gulf of Mexico. The well, located in 6,500 ft of water on Mississippi Canyon 519, was drilled to TD at 18,920 ft. Open-hole logging identified about 60 ft of oil pay in a high-quality Miocene reservoir. Noble Energy is the operator at Santiago with a 23.25% working interest.

ATP Oil & Gas Corporation concluded drilling on the deepwater Mississippi Canyon (MC) 941 A-2 well located at ATP’s Telemark Hub, and all pay sands encountered in the earlier MC 941 A-1 well were present, essentially confirming pre-drill estimates. The main pay sands are about 500 ft structurally higher than the MC 941 A-1 well and 1,000 ft above the original oil-water contact.

Stone Energy Corporation’s board of directors has increased the company’s 2011 capex budget from $425 million to a range of $475-500 million due to a projected increase in production, oil prices, and estimated cash flow, combined with an attractive inventory of capital projects. Stone has additionally increased its 2011 production guidance from 200-220 MMcfe/d to 205-225 MMcfe/d.

Williams Partners, LP has received a contract award from Hess Corporation to provide production handling ...